EFG Asset Management Americas Corp. Buys New Position in Equitable Holdings, Inc. (NYSE:EQH)

Key Points

• EFG Asset Management Americas Corp. acquired 15,447 shares of Equitable Holdings, Inc. (NYSE:EQH) in the first quarter, valued at approximately $805,000.
• Insider selling was notable; CEO Mark Pearson sold 30,000 shares for about $1.57 million, reducing his ownership by 4.03%.
• Equitable's stock is currently rated a "Moderate Buy" with an average price target of $65.30, indicating positive outlook from analysts.

EFG Asset Management Americas Corp. acquired a new position in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 15,447 shares of the company's stock, valued at approximately $805,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Equitable by 5,536.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,109,113 shares of the company's stock worth $110,286,000 after purchasing an additional 2,071,691 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in shares of Equitable by 237.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,758,637 shares of the company's stock worth $82,955,000 after purchasing an additional 1,236,799 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Equitable during the fourth quarter worth about $53,927,000. Man Group plc grew its holdings in Equitable by 616.6% during the fourth quarter. Man Group plc now owns 1,245,568 shares of the company's stock worth $58,753,000 after acquiring an additional 1,071,763 shares during the period. Finally, Freestone Grove Partners LP acquired a new stake in Equitable during the fourth quarter worth about $48,472,000. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Equitable

In related news, COO Jeffrey J. Hurd sold 6,666 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $52.91, for a total value of $352,698.06. Following the sale, the chief operating officer owned 94,980 shares in the company, valued at approximately $5,025,391.80. The trade was a 6.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO William James Iv Eckert sold 4,000 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $53.09, for a total value of $212,360.00. Following the completion of the sale, the chief accounting officer owned 19,827 shares in the company, valued at $1,052,615.43. This represents a 16.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 135,666 shares of company stock worth $7,145,208 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on EQH. Morgan Stanley reaffirmed an "overweight" rating and set a $68.00 target price (up from $67.00) on shares of Equitable in a report on Monday, July 14th. JPMorgan Chase & Co. raised their price objective on Equitable from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Evercore ISI decreased their target price on Equitable from $69.00 to $64.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Keefe, Bruyette & Woods raised their target price on Equitable from $63.00 to $64.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Finally, UBS Group decreased their target price on Equitable from $77.00 to $75.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Equitable has an average rating of "Moderate Buy" and a consensus price target of $65.30.

Equitable Trading Up 1.4%

NYSE:EQH traded up $0.71 on Monday, reaching $50.80. The company's stock had a trading volume of 931,888 shares, compared to its average volume of 2,739,189. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 2.39. The firm has a market cap of $15.32 billion, a price-to-earnings ratio of 13.81 and a beta of 1.14. Equitable Holdings, Inc. has a 12-month low of $36.46 and a 12-month high of $56.61. The stock has a 50 day moving average price of $53.35 and a 200 day moving average price of $52.17.

Equitable Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, August 5th. Equitable's payout ratio is currently 29.35%.

Equitable Profile

Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through six segments: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management, and Legacy.